AXQ Capital LP Buys New Stake in SEI Investments Company $SEIC

AXQ Capital LP bought a new stake in SEI Investments Company (NASDAQ:SEIC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,116 shares of the asset manager’s stock, valued at approximately $830,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bison Wealth LLC purchased a new position in SEI Investments during the fourth quarter worth $207,000. Baird Financial Group Inc. purchased a new position in SEI Investments during the first quarter worth $201,000. Geneos Wealth Management Inc. boosted its stake in SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after buying an additional 200 shares during the period. M&T Bank Corp boosted its stake in SEI Investments by 11.9% during the second quarter. M&T Bank Corp now owns 3,217 shares of the asset manager’s stock worth $289,000 after buying an additional 341 shares during the period. Finally, CW Advisors LLC purchased a new position in SEI Investments during the second quarter worth $280,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Stock Down 0.6%

NASDAQ:SEIC opened at $87.77 on Wednesday. SEI Investments Company has a twelve month low of $75.08 and a twelve month high of $93.96. The company has a market cap of $10.56 billion, a price-to-earnings ratio of 14.98 and a beta of 0.97. The stock has a fifty day simple moving average of $84.74 and a 200-day simple moving average of $83.37. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.15. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The business had revenue of $622.18 million during the quarter, compared to the consensus estimate of $641.82 million. During the same period last year, the company earned $1.17 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts anticipate that SEI Investments Company will post 5.89 EPS for the current year.

SEI Investments Announces Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, June 16th. Investors of record on Monday, June 8th will be issued a $0.52 dividend. This represents a dividend yield of 116.0%. The ex-dividend date is Monday, June 8th. SEI Investments’s payout ratio is presently 17.75%.

Wall Street Analyst Weigh In

Several research firms have commented on SEIC. Piper Sandler reaffirmed an “overweight” rating and set a $105.00 price objective (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. UBS Group began coverage on shares of SEI Investments in a research note on Wednesday, February 4th. They set a “buy” rating and a $115.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday, April 21st. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 price objective on shares of SEI Investments in a research note on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.00.

Insider Transactions at SEI Investments

In related news, insider Mark Andrew Warner sold 4,000 shares of SEI Investments stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total value of $364,640.00. Following the completion of the sale, the insider directly owned 921 shares in the company, valued at $83,958.36. The trade was a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 7,447 shares of SEI Investments stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $79.26, for a total value of $590,249.22. Following the completion of the sale, the chairman owned 6,875,783 shares of the company’s stock, valued at $544,974,560.58. The trade was a 0.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 116,447 shares of company stock valued at $9,908,539 over the last three months. 4.80% of the stock is currently owned by corporate insiders.

SEI Investments Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.